Author: ChasW

Navellier Top 5 Stocks for September

igh-Growth Investments

Cenovus Energy, Inc.

Cenovus Energy, Inc. (CVE) claims a spot on the Top Stocks list for the second-straight month, as the Canadian oil sands company continues to profit from elevated energy prices. As one of the largest oil and natural gas producers in Canada, Cenovus Energy has total proved reserves of 6.1 billion barrels of oil equivalent. In the second quarter, Cenovus Energy achieved upstream production of 762,000 barrels of oil equivalent per day (boepd).

Thanks to the strong production numbers, the company also reported second-quarter earnings of $1.19 per share on revenue of $19.2 billion, which crushed estimates for earnings of $0.82 per share and revenue of $11.56 billion. And Cenovus Energy now anticipates full-year production between 780,000 and 810,000 boped.

The analyst community also remains very positive on Cenovus Energy for the rest of this year. Third- and fourth-quarter earnings estimates have been upped by 21.3% and 15.9%, respectively, in the past three months. Full-year earnings estimates have also been revised higher, and analysts now forecast annual earnings growth of 1,561.9%. CVE is a Conservative buy below $22.

SOM Technicals:

7-30-22: Closed at 19.08. Trade pressures are up. Volumes are bullish. The next target up is 22.29.

8-6-22: Closed at 16.43. Trade pressures are down. Volumes are bearish. The next target down is 15.28, the prior low.

8-12-22: Closed at 18.68. Trade pressures are up. Volumes are bullish. The next target up is 18.75.

8-21-22: Closed at 18.19. Trade pressures are up but turning down. Volumes are now neutral. 17.76 would start a new leg down.

8-27-22: Closed at 19.30. Trade pressures are up but turned down. The next target down is 18.79.

9-2-22: Closed at 18.93. Trade pressures are up. Volumes are now neutral. The next target up is 22.29.

9/9/22: Closed at 17.73. Trade pressures are down. Volumes are now neutral. The next target down is 16.88, the 200 day MA.

9/16/22: Closed at 18.64. Trade pressures are down. Volumes are bullish. The next target down is 15.13. the next target up is the new long entry at 18.75.

9-23-22: Closed at 15.74. Trade pressures are down. Volumes are bearish. The next target down is 13.99.

 

CF Industries Holdings, Inc.

CF Industries Holdings, Inc. (CF) produces approximately 10 million tons of ammonia each year through its nine manufacturing facilities in the U.S., Canada and the U.K. As you may know, ammonia is a versatile product that can be used as a fertilizer or developed into other nitrogen fertilizers like urea, urea ammonium nitrate (UAN) and ammonium nitrate

The company has benefited from an increased demand for fertilizers, as supplies from Russia and Ukraine have been hindered by the war between these two countries. So, during the second quarter, CF Industries reported that earnings soared 389.5% year-over-year to $1.17 billion, or $5.58 per share, while revenue jumped 113.2% year-over-year to $3.39 billion.

Looking forward to the third quarter, earnings are forecast to surge to $3.40 per share, compared to an earnings loss of $0.86 per share in the same quarter a year ago. Third-quarter revenue is anticipated to come in at $2.34 billion. CF is a Conservative buy below $130.

SOM Technicals:

8-27-22: Closed at118.35. Trade pressures are up. Volumes are bullish. The next target up is 122.83 with support at 114.80.

9-2-22: Closed at 106.86. Trade pressures are up into the neutral zone. Volumes are bullish. The next target down is 98.40.

9-9-22: Closed at 102.46. Trade pressures are down. Volumes are now neutral. The next target down is 98.40.

9-16-22: Closed at 98.59. Trade pressures are down. Volumes are now bullish. The next target down is 85.29.

9-23-22: Closed at 93.79. Trade pressures are down. Volumes are are now neutral. The next target down is 85.29.

 

Devon Energy Corporation

Devon Energy Corporation (DVN) operates in some of the most lucrative crude oil and natural gas producing basins in the U.S., including the Anadarko Basin, the Delaware Basin, Eagle Ford, the Powder River Basin and the Williston Basin. So, it’s not too surprising that the company achieved production of 616,000 bpd in the second quarter. That represented a 7% year-over-year increase.

Devon Energy also reported second-quarter adjusted earnings surged 331.7% year-over-year to $2.59 per share, up from $0.60 per share in the same quarter a year ago. Analysts expected adjusted earnings of $2.38 per share, so the company exceeded estimates by 8.8%.

I should add that Devon Energy is one of the few stocks that earn a spot on both Buy Lists, as it also has a history of rewarding its shareholders. It’s paid a dividend for 118-straight quarters. Devon Energy plans to pay a second-quarter variable dividend of $1.55 per share and a fixed dividend of $0.02 per share on September 30 to all shareholders of record on September 12. The stock has an 8.8% dividend yield. DVN is a Moderately Aggressive buy below $82.

SOM Technicals:

5-1-22: Closed at 58.17. Trade pressures are up. Volumes are bearish. The next target down is 55.44.

5-6-22: Closed at 69.69. Trade pressures are up. Volumes are bullish. The next target up is 70.97.

5-14-22: Closed at 68.60. Trade pressures are up. Volumes are bullish. The next target up is 69.75.

5-21-22: Closed at 68.92. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 73.18.

5-29-22: Closed at 75.85. Trade pressures are up. Volumes are Bullish. The next target up is 79.23.

6-05-22: Closed at 77.02. Trade pressures are up. But rolling over. Volumes are bullish. The next target up is 88.63.

6-11-22: Closed at 73.75. Trade pressures are down. Volumes are neutral. The next target down is 69.38.

6-18-22: Closed at 58.02. Trade pressures are down. Volumes are bearish. The next target down is 51.12.

6-25-22: Closed at 53.77. Trade pressures are down. Volumes are bearish. The next target down is 51.68.

7-2-22: Closed at 56.11. Trade pressure are in the neutral zone. Volumes are neutral. The next target down is the 200 day MA at 52.38.

7-9-22: Closed at 54.47. Trade pressures are up into the neutral one. Volumes are neutral. The next target up is 59.82.

7-30-22: Closed at 62.85. Trade pressures are up. Volumes are bullish. The next target up is 70.78.

8-6-22: Closed at 56.66. Trade pressures are down but rising. Volumes are bullish. The next target up is 59.82.

8-12-22: Closed at 65.56. Trade pressures are up. Volumes are bullish. The next target up is 70.78.

8-21-22: Closed at 68.51. Trade pressures are up. Volumes are now bearish. The next target down is 64.92.

8-27-22: Closed at 72.77. Trade pressures are up. Volumes are bullish. The next target up is 75.96.

9-2-22: Closed at 70.34. Trade pressures are down but rising. Volumes are now neutral. The next target down is 67.63.

9-9-22: Closed at 68.91. Trade pressures are down but rising. Volumes are now neutral. The next target up is71.72.

9-16-22: Closed at 66.82. Trade pressures are down. Volumes are bearish. The next target down is 60.00.

9-23-22: Closed at 57.69. Trade pressures are down. Volumes are now neutral. The next target down is 56.40.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) is an independent oil and natural gas exploration and production company, with operations in the Bakken Shale, Eagle Ford, the Permian Basin and STACK/SCOOP. In the second quarter, the company achieved total production of 283,000 boepd, and oil production accounted for 157,000 barrels per day.

Strong production levels led to equally strong financial results: Second-quarter revenue soared 101.5% year-over-year to $2.3 billion, while adjusted earnings per share surged 500% year-over-year to $1.32. The consensus estimate called for adjusted earnings of $1.26 per share on $2.07 billion in revenue.

Marathon Oil has exceeded analysts’ earnings estimates for four-straight quarters – and it’s likely gearing up for a fifth quarterly earnings surprise. Analysts have increased third-quarter earnings estimates over the past three months and now expect 235.9% year-over-year growth. As you know, positive analyst revisions typically precede future earnings surprises. MRO is a Moderately Aggressive buy below $30.

SOM Technicals:

3-26-22: Closed at 26.04. Trade pressures are up. Volumes are bullish. In consolidation. A close below 25.00 would signal lower.

4-2-22: Closed at 25.75. Trade pressures are up into the neutral zone, Volumes are bullish. The next target up is 26.22, the prior high.

4-10-22: Closed at 25.92. Trade pressures are up. Volumes are bullish. The next target up is 26.40 the prior high.

5-1-22: Closed at 24.92. Trade pressures are up. Volumes are neutral. The next target up is 27.27.

5-6-22: Closed at 28.15. Trade pressures are up. Volumes are bullish. The next target up is 29.00.

5-14-22: Closed at 27.00. Trade pressures are up. Volumes are bullish. The next target up is 27.35.

5-21-22: Closed at 27.26. Trade pressures are down but turning up. Volumes are bullish. The next target up is the 28.44 resistance.

5-29-22: Closed at 31.24. Trade pressures are up. Volumes are bullish. The next target up is 34.09.

6-05-22: Closed at 31.60. Trade pressures are up but rolling over. Volumes are bullish. A break below 30.58 would signal lower.

6-11-22: Closed at 30.10. Trade pressures are down. Volumes are bearish. The next target down is 27.90.

6-18-22: Closed at 24.15. Trade pressures are down. Volumes are bearish. The next target down is 20.39.

6-25-22: Closed at 22.05. Trade pressures are down. Volumes are bearish. The next target down is 20.62.

7-2-22: Closed at 22.56. Trade pressures are in the neutral zone. Volumes are neutral. The next target down is 20.90.

7-9-22: Closed at 21.72. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 24.55.

7-30-22: Closed at 24.80. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-6-22: Closed at 21.77. Trade pressures are down. Volumes are bearish. The next target down is a retest of the low at 19.42.

8-12-22: Closed at 24.06. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-21-22: Closed at 24.46. Trade pressures are up. Volumes are bullish. The next target up is 28.90. 

8-27-22: Closed at 26.16. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

9-2-22 Closed at 25.71. Trade pressures are down but rising. Volumes are now neutral. The next target up is 28.90.

9-9-22: Closed at 25.61. Trade pressures are down but rising. Volumes are now neutral. The next target up is 27.55.

9-16-22: Closed at 23.10. Trade pressures are down. Volumes are now bullish. The next target up is 27.92.

9-23-22: Closed at 21.90. Trade pressures are down. Volumes are bearish. The next target down is 21.01.

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) is a leading energy exploration and petrochemical manufacturing company with more than 100 years of experience. The company has energy and chemical assets in Africa, Latin America, the Middle East and the U.S. Occidental Petroleum boasts that it is one of the biggest oil and natural gas producers in the U.S., as well as a top-tier producer of chemicals here in the U.S. and around the world.

During the second quarter, the company produced 1.15 million barrels of oil equivalent per day (Mboepd). Second-quarter adjusted earnings soared 887.5% year-over-year to $3.16 per share, while second-quarter sales increased 78.6% year-over-year to $10.74 billion. Occidental Petroleum beat analysts’ top- and bottom-line estimates, and in turn, analysts have upped third-quarter estimates.

For the third quarter, earnings are now forecast to soar 228.7% year-over-year to $2.86 per share, up from $0.87 per share in the same quarter a year ago. Third-quarter revenue is expected to rise 53.5% year-over-year to $10.06 billion. OXY is a Moderately Aggressive buy below $85.

SOM Technicals:

8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.

9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.

9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.

9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.

9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is looking higher. Gold is a new short. Silver also a new short.

Crude Oil is testing a new short entry. Nat Gas is flat but looking for a pull back to re-enter the long.

The US 30 year Treasury is at support in the move down.

The US Dollar futures are in a new move up.

_________________

S&P 500 Futures_

Monthly – touched the long entry confirmation price. Trade pressures are up into the neutral zone. Volumes closed the month of July as bearish. The next target down is 3008. A close above the 4275 level would confirm any weekly move higher.

Weekly -In the move up from the mid June low. Trade pressures are up into the neutral zone. Volumes are bullish. The next target down is 3589. The next target up is 4313 and would confirm any daily move higher.

Daily – Flat. Stopped out of the long trade. Trade pressures are up but declining. Volumes are bearish. The next target down is the new short entry at 4186. A close above 4274 would signal higher.

____________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.

This last week portfolio value moved down as the averages met the 200 day MA. The value moved down to approximately $73,000. The Year-to-Date portfolio performance is now down 27%.

 

[The author may have long or short positions in any of the securities mentioned.]

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXU22

Weekly – Remains in the March 2021 uptrend. Trade pressures are down inot the neutral zone. volumes are bullish.

Daily – In the move up from the 106.49 entry. Trade pressures are up. Volumes are bullish.

The next target up is 108.47.
[8-22-22:Now next is 109.41 and will be OBot there.]

A close below 107.58 would signal lower.

 

US 30YR T-BOND_ USU22

Weekly – In the January 2022 downtrend. Trade pressures are down. Volumes are now neutral.

Daily – Short . In the move down from the 143-09 short entry level. Trade pressures are down. Volumes are bearish.

The next target down is 135-09.

A close above 138-27 would signal higher. Use as SL

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLV22

Weekly – In the Feb 2022 uptrend. Trade pressures are down. Volumes are bearish.

Daily – Short. In the move down from the 8/12 re-entry. Consolidating at the 200 day MA. Trade pressures are up. Volumes are bearish.

A close below 89.30 would reenter the short trade. The next target down after is 87.03.

A close above 93.83 would signal higher. Use this as the SL.

[8-22-22: The 200 day MA is holding support; close/reduce shorts. ]

 

NAT GAS_ NGU22

Weekly – In the June 2021 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Long. stopped out on the late week pullback. Trade pressures are up but declining. Volumes are now neutral.

The next target up is 9.63.

A close below 8.58 would signal lower.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGU22

Weekly – In the May 2022 downtrend. Trade pressures are in the neutral zone. Volumes are neutral.

Daily – Flat. Consolidating at the 3.69 target. Trade pressures are up into the neutral zone. Volumes are neutral.

The next target up is 3.71.

A close below 3.60 would signal lower.

 

GOLD_ GCZ22

Weekly – In the July 2022 downtrend. Trade pressures are up. Volumes are neutral.

Daily – Short. In the move down from the 1773 short entry. Trade pressures are down. Volumes are bearish.

The next target down is 1722.

A close above 1770 would signal higher. Use 1770 as the SL.

[8-22-22: take profits near the 1722. New long entry/SL at 1751.]

 

SILVER_ SIU22

Weekly – In the May 2022 downtrend. Trade pressures are up. Volumes are bullish.

Daily – Short. In the new move down from the 19.72 short entry on 8/17. Trade pressures are down Volumes are bearish.

The next target down is 18.58.

A close above 19.34 would signal higher: use this as a SL.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is at resistance levels. Gold and silver are both in rally mode but near some resistances.

Crude oil is in a move up. Natural gas is a new long.

The US 30yr Treasury is retracing the June move up.

The US Dollar futures are basing and look higher.

___________________

S&P 500 Futures_

Monthly – Good follow thru of the retracement above the big June down bar. Trade pressures are rising into the neutral zone. Volumes closed the month of July as bearish. Now in the new move up from the the 4275 close. The next target up is the prior high at 4808. A close below 4119 would confirm any weekly move lower.

Weekly – Retracing the 2022 move down. Trade pressures are up into the neutral zone. Volumes are  bullish. The next target down is the 3589 retest. The next target up is the new weekly long entry at 4313 and would confirm any daily move higher.

Daily – Long. In the move up from the break above the June highs at 4176. Trade pressures are up. Volumes are bullish. The next target up is 4335. A close below 4264 would signal lower. Take profits at the 4335 target. SL at 4264.
[8-17-22: stopped out at the 4264 SL]

____________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.

This last week portfolio value moved up sharply with commodity prices. The value moved up to approximately $74,000. The Year-to-Date portfolio performance is now down 26%.

 

[The author may have long or short positions in any of the securities mentioned.]

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXU22

Weekly – Remains in the March 2021 uptrend. Trade pressures are down into the neutral zone. Volumes are now bearish.

Daily – In the move down from the 8/10 short entry at 105.81. Trade pressures are down but rising. Volumes are bearish.

The next target  down is 104.20.

A close above 106.49 would signal higher.

 

US 30YR T-BOND_ USU22

Weekly – In the Jan 2022 downtrend. Trade pressures are up but turning down. Volumes are bullish.

Daily – Flat. In the move up from the 7/21 entry at 139-15. Now in the retracement down from 143-90. Trade pressures are down. Volumes are bearish.

The next target down is 135-09.

A close back above 140-30 would restart the long trade.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU22

Weekly – In the Feb 2022 uptrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. In the move down from the 8/1 short entry at 94.59. Trade pressures are up but turning down. Volumes are now neutral.

The next target down is 86.43.

A close above 95.53 would signal higher.

 

NAT GAS_ NGU22

Weekly – Remains in the long June 2021 uptrend. Trade pressures are up. Volumes are now bullish.

Daily – Long. In the new move up from 8/11 at 8.52. Trade pressures are up. Volumes are bullish.

Wait for the over bot to work off, then buy below 8.52.

A close below 8.50 would signal lower and is the SL.

[8-17-22: The reversal down then back up thru the 8.52 occurred on 8/15. today, 8/17, nat gas trades down to the 9.21 SL. Sell NGU22.]

 

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGU22

Weekly – In the May 2022 downtrend. Trade pressures are rising into the neutral zone. Volumes are now neutral.

Daily – Flat. In the move up from the 3.34 entry on 7/26. Trade pressures are up. Volumes are bullish.

The next target up is the 3.71 prior high pivot.

Price is at the 3.67 target, expect retracement and consolidation here. A close below 3.63 would signal lower.

 

GOLD_ GCZ22

Weekly – In the July 2022 downtrend. Trade pressures are rising up thru the neutral zone. Volumes are now bullish.

Daily – Flat. In the move up from the 1766 long entry on 7/28. Trade pressures are up but showing divergence. Volumes are bullish.

Just breaking above the 2 hour resistance. The next target up is 1845. Showing uptrend over-bot.

A close below 1798 would signal lower.

 

SILVER_ SIU22

Weekly – In the May 2022 downtrend. Trade pressures are up into the neutral zone. Volumes are now bullish.

Daily – Flat. In the move up from the 7/28 long entry at 19.44. Trade pressures are up. Volumes are bullish.

The next target up is 20.98.

A close below 20.43 would signal lower. Use 20.53 as the SL.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is setting up for a new long entry. Gold and silver are consolidating; working off over bought pressures.

Crude oil is consolidating and appears oversold. Natural gas is consolidating after the short entry was triggered.

The US 30 year Treasury is looking lower.

The US Dollar futures are over sold.

____________________

S&P 500 Futures_

Monthly – Moved up off the confluence of the 2008-2020 trendline and the 3695 downside target. Trade pressures are down but rising. Volumes closed the month of July as bearish. The next target down is a retest of 3695. A close above 4275 confirms any weekly move higher.

Weekly – In the move up off the 3639 low pivot. Trade pressures are down but rising to the neutral zone. Volumes are bullish. The next target down is the 3639 pivot. A close above 4313 would confirm any Daily move higher.

Daily – Flat. In the move up from the channel breakout on 7/20. Trade pressures are up. Volumes are bullish. The next target up is the May 32st pivot at 4204. Equity indices are overbought. A close below 4105 would signal lower.

____________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.

This last week portfolio value moved down sharply with commodity prices. The value moved down to approximately $68,000. The Year-to-Date portfolio performance is now down 32%.

 

[The author may have long or short positions in any of the securities mentioned.]